Yellow book government auditing standards slideshare. The prorated amount of hours would be the total requirement over the partial period. Government auditing standards yellow book practice aids. Why are my auditors doing a yellow book and single audit. The yellow book is the book of standards and guidance for auditors and audit. Gao issues revised yellow book standards for government. Effective with the implementation dates for the 2018 revision of the yellow book, the gao is retiring government auditing standards.
However, the proposed standard clarifies continuing education requirements for internal specialists such as actuaries. Continuing professional education cpe programs general personal development, such as resume writing, improving parentchild relations, personal investments and money management, and retirement planning do not qualify for yellow book cpe. The 2011 revision should be used by government auditors until further updates and revisions are made. The first line of the july 2007 yellow book says the principles of transparency and accountability for the use of public resources are key to our nations governing processes. In july 2007, the gao issued an omnibus revision to the yellow book. Yellow book standards for performance auditors cpe 01.
Important notes on the effective date of cperelated changes in the 2018 yellow book gao effective date. Cpe requirements the new york state society of cpas. Auditors who work under gagas should complete a minimum of 24 hours of cpe every two years. General accounting office how is general accounting office abbreviated. July 2007 government auditing standards july 2007 revision the july 2007 revision of government auditing standards supersedes the 2003 revision and updates the january 2007 revision. Hear about the new yellow book requirements for financial statement audits, attestation engagements, and performance audits. Dvdmanual21 in 2007, the gao revised the yellow book. Yellow book cpe requirements are outlined by the government accountability office gao, specifically in the gao s guidance on gagas requirements for continuing professional education. The 80hour rule every two years the 24hour rule every two years then you must answer. Today we issued an exposure draft containing proposed updates to generally accepted government auditing standards, also known as the yellow book. Under these requirements all auditors should complete every 2 years at. The yellow book interpreted which qualifies for 15 hours of cpe. Government auditing is essential in delivering an objective and independent view of government programs and services. However, beginning on january 1, 2020, new licensed cpas will be subject to the same cpe requirements as other cpas.
Apr 05, 2017 the 2017 yellow book exposure draft is available on our yellow book webpage. Government auditing standards the yellow book acqnotes. Guidance on gagas requirements for continuing professional education and government auditing standards. Government accountability office accepts many cpe courses offered by pony express cpe. Last revised in 2011, the yellow book is designed to. In july 2007, the gao issued its fourth revision of the yellow book standards.
Jul 17, 2018 the 2018 yellow book supersedes the 2011 revision, the 2005 government auditing standards. Now the standards and all of the related updates are available on the gaos website at o. Government auditing standards july 2007 revision a gao 07731g. Catch up on the latest developments in accounting and auditing for state and local governments and notforprofits in a powerpacked fourhour session. Important notes on the effective date of cpe related changes in the 2018 yellow book gao effective date. Guidance on gagas requirements for continuing professional education gao 05568g, april 2005, and the 2014 government auditing standards. Proposed changes to gaos yellow book promote harmonization. The update revises the july 2007 yellow book and is expected to be. Accountability office gao, is the statement of auditing standards for audits of. This is the government auditing standards 2011 version. Can cpe taken on taxation subject matter be used to fulfill yellow book cpe requirements. The generic answer, for the purposes of compliance with the yellow book, is no one. These standards, often referred to as generally accepted government auditing continue reading.
Surgents yellow book cpe package lets you fulfill your 24hour yellow book requirement for one low price. Gao united states government accountability office by the comptroller general of the united states december 2011 government auditing standards 2011 revision gao12331g 2. An excellent baseline of information for accountants planning or conducting engagements in accordance with generally accepted government auditing standards yellow. Gao has posted an alert that provides more information on the various flexibilities to help auditors meet their cpe requirements. Course online, course textbook yellow book requirements foundational. One of the tough things about the gao standards is they are not written for. These requirements are effective june 30, 2005, as outlined in the gaos guidance on gagas requirements for continuing professional education.
The basic continuing professional education cpe requirements under gagas have not changed from the 2007 yellow book. The yellow book is used by auditors of government entities, entities that receive government awards, and other audit organizations performing yellow book audits. General accounting office how is general accounting. Qualifies for yellow book cpe credit the gaos yellow book standards set a high bar for government performance auditors. The 2007 yellow book became applicable for financial audits and attestation engagements for periods beginning on or after january 1, 2008, and for performance audits beginning on or after january 1, 2008. The gao doesnt ask that audit teams report cpe hours to them. The mncpa offers yellow book credit for select seminars and conferences. This publication is superceded by gao 12331g, government auditing standards. The gao has a few things to say about a government auditors ethical responsibilities and, thus, added a large section on ethics to the 2007 revision of the yellow book. We invite your comments on the proposed changes, which reflect developments in the accounting and auditing profession. This document outlines standards that contain requirements for auditor reporting on internal control. The july 2007 revision represents the complete 2007 revision of government auditing standards, and is the version. Yellow book update american association of state highway. Gao proposes updates to yellow book of government auditing.
These requirements are outlined in the gaos guidance on gagas. That is why the following report from the gao about the federal governments financial. This short course focuses on the requirements of the yellow book that challenge government performance auditors including the cpe, independence, and reporting requirements. Until very recently, to get the standard, you had to purchase an actual little yellow book from the government. Gao united states government accountability office by the comptroller general of the united states 2011 edition. Guidance on gagas requirements for continuing professional education gao05568g, april 2005, and the 2014 government auditing standards. Apr 01, 2007 gao appoints yellow book advisory council. Government auditing standards the yellow book contains standards for audits of government organizations, programs, activities, and functions, and of government assistance received by contractors, nonprofit organizations, and other nongovernment organizations.
Given concerns raised about auditors ability to complete continuing professional education cpe requirements due to the covid19 pandemic, gao has taken steps to allow for more time and flexibility to complete such requirements. Below we will address 1 who is subject to the yellow book cpe requirements and 2 what cpe classes satisfy those requirements. Updating government auditing standards the 2017 yellow. This document provides guidance to auditors and audit organizations in implementing the continuing professional education cpe requirements prescribed by the government auditing standards yellow book issued by the comptroller general of the united states of the government accountability office gao. Gao issues revised yellow book standards for government auditors.
Gao updates yellow book, the preeminent standards for government auditing. Fulfill your 24hour yellow book requirement for one low price with surgents selfstudy yellow book package. Continuing professional education cpe no revision to overall requirements. Byebye catchy title, hello kitschy titlethe yellow book. Auditors performing work under gagas, including those planning, directing or performing field work, or those reporting on an audit or attestation. The eight key changes proposed by the gao include the following. An electronic version of this document can be accessed on gaos yellow book web. At least 80 hours of cpe that directly enhances the auditors professional proficiency to perform audits or attestation engagements, with a minimum of 20 hours in any 1year of the 2. For those subject to the 80 hour rule, at least 20 hours of cpe should be taken in each year of the twoyear period. Yellow book government auditing standards pony express cpe.
View report pdf, 32 pages this document provides guidance to auditors and audit organizations in implementing the continuing professional education requirements prescribed by the 2003 revision of government auditing standards. Continuing professional education incorporated the revised cpe requirements that were issued in april 2005 gao05568g. This revision drops discussion surrounding certain aicpa statements on auditing standards sas and statements on standards for attestation engagements ssae requirements that were incorporated by reference and included in the 2007 revision, as the standards have converged in those areas. At least 80 hours of cpe that directly enhances the auditors professional proficiency to perform audits or attestation engagements, with a. Are you searching to learn more about the gao yellow book standards and how. Government accounting office gao with an array of accounting cpe selfstudy courses that cover the topic from every angle. Earn a minimum of 20 hours annually, 80 hours biannually with 24 hours in governmental subjects for certain staff members. Government auditing standards yellow book practice aids and. Effective january 1, 2004, the gao has deleted taxation from the list of subjects that always satisfy the 80hours every two years requirement. Under these requirements all auditors should complete every 2 years at least 24 hours of cpe that relates to gagas all auditors involved in planning, directing, or reporting on.
Cpe requirements under gagas have not changed from the 2007 yellow book. Auditors performing work under gagas should complete every 2 years. Oct, 2015 yellow book government auditing standards 1. Identify the guidance found in government auditing standards gas, 2018 revision. Gao clarifies new cpe requirements under yellow book.
Page 57 gao12 331g government auditing standards experience to yellow book. Establish general standards for both governmental and nongovernmental auditors performing audits in accordance with gagas. Minimum of 24 hours of cpe every 2 years government specific or unique environment auditing standards and applicable accounting principles additional 56 hours of cpe for auditors involved in planning, directing, or reporting. This is the government auditing standards 2007 version. Yellow book selfstudy cpe yellow book cpe yellow book. The governmental accountability office has released proposed changes to government auditing standards better known as the yellow book.
Gao releases proposed changes to yellow book auditing standards. Resources include the most uptodate information on the uniform. Auditing standards 2011 revision the 2011 revision of government auditing standards supersedes the 2007 revision. What are the requirements for yellow book continuing professional education cpe.
Limits for other personal development activities are not specifically addressed in the gaos guidance on. Auditors performing work under the gaos government auditing standards are required to complete, every two years, 24 hours of cpe in subjects directly related to government auditing, the government environment, or the specific or. United states government accountability office gao by the comptroller general of the united states government december 2011 auditing. Consult the yellow book for reporting requirements. By the comptroller general of the united states july 2007 government auditing standards july 2007 revision the july 2007 revision of government auditing standards supersedes the 2003 revision and updates the january 2007. Address the unique requirements of governmental entities. The 2018 yellow book supersedes the 2011 revision, the 2005 government auditing standards.
Gao releases proposed changes to yellow book auditing. This publication supersedes gao 07731g, government auditing standards. On behalf of more than 190,000 global members of the institute of internal auditors iia, including nearly 12,000 federal. The gao yellow book, first issued by the comptroller general of the united states in 1972, is intended to. Interpretation of continuing education and training. We encourage all interested parties to comment on the draft. The cpe is expected to last two hours in the morning.
Yellow book cpe courses from surgent keep you up to date on the latest developments from the u. State cpe requirements maine society of certified public. It outlines the requirements for audit reports, professional qualifications for auditors, and audit organization quality control. Apr 26, 2017 these requirements are effective june 30, 2005, as outlined in the gaos guidance on gagas requirements for continuing professional education. United states government accountability office gao by the comptroller general of the united states government december 2011 auditing standards 2011 revision the 2011 revision of government auditing standards supersedes the 2007 revision. Discuss the relationship between gas and other professional standards, and yellow book guidance regarding independence. Updating government auditing standards the 2017 yellow book. Auditors of federal, state, and local government programs use these standards to perform their audits and produce their reports. Those respon sible for planning, directing, reporting, or con ducting substantial portions of the field work must also meet the 24hour cpe requirement. Yellow book continuing professional education cpe auditors performing work under gagas need to complete 80 hours of cpe every two years with a minimum of 20 hours each year. Generally accepted government auditing standards yellow. Yellow book update aashto 2008 audit conference july 22, 2008.
Must be licensed to practice in order to perform governmental audits. Auditors who work on yellow book audits must meet the sohour cpe requirement. The 20hour minimum for each cpe year would not apply when a prorated number of hours is being used to cover a partial 2year cpe period. Apr 10, 2018 enjoy this excerpt from the selfstudy text. The gao has a few things to say about a government auditors ethical responsibilities and, thus, added a large section on. Gao standards yellow book checkpoint learning cpe for cpas. Governmental auditing, these learning resources are designed to help cpas understand the knowledge and skills necessary to perform highquality single audits, yellow book audits, and audits of state and local government financial statements. A new format differentiating requirements from application guidance. Standards, often referred to as the yellow book or generally. Generally accepted government auditing standards yellow book. A complete guide to yellow book why, what, and how this course describes the requirements created by the government auditing standards, known as the yellow book. Surgents selfstudy yellow book package cpe for cpas.